At the outset, I
am thankful for visiting the official web site of the Bank in its Silver
Jubilee year. On behalf of Smriti Bank please accept my heartiest greetings.
The website has been designed to help you explore the different products and
services of the Bank suiting as per your requirements. I am confident the same
will benefit you and your family help in availing the diverse range of banking
products and services.
Smriti Bank is one of the fastest growing banks of MP state. Acknowledged by ASSOCHAM by standing Runners up in Social Banking Awards 2014-15. With consistent growth on Year on Year basis the total business has crossed Rs.1000 crores in a journey period of 25 years. Although the bank has been trying to expand its wings to other states to get status of Multistate, the Bank nurtures the ambition to become a Scheduled and Small Finance Bank in the near future.
The Bank is having dedicated staff with state of the art technology as a tool to flow with ever evolving technological dimensions on CBS platform. Bank has large base of Daily Deposit collection agents with mobile handheld machines spread across in more than 75 villages across the districts of Mandsaur and Neemuch, thus rendering door to door banking services catering to Financial Inclusion scheme of RBI and Govt. of India. The Bank is having 14 strategically located branches with 28 ATMs to cater to the daily needs of customers.
As per the Reserve Bank of India (RBI) norms, UCBs with total assets of more than Rs. 500 crore were to be appointed by the Board of Directors as well as the Board of Management. The total assets of the Bank is more than Rs. 500 crore, so it has also been constituted by the Bank.
Bank is on the path of continuous progress and in order to increase the income of the bank, the bank has tied up with SBI General Insurance and providing health insurance to the account holders of the bank at a minimum premium. Life insurance of borrowers is also being provided for loan security. Similarly, the bank has also tied up for mutual funds and SIPs of all AMCs under Cross Selling, which is expected to increase the income of the bank in the coming years.
Many new schemes of loan have also been started by Smriti Bank, in which Grameen Awas Yojana in rural areas and like other commercial and private banks, Flexi Personal Loan for Home Loan, Secured Personal Overdraft and Agriculture Linked Business Loan Scheme related to agricultural loan are also prominent by Smriti Bank. Similarly, the Bank is also providing loans through self-help groups for the purpose of providing employment opportunities to women from poor sections of the society.
The Bank has also introduced AIR PAY facility for merchants, which is linked to the bank's current account. Under which the merchant provides POS machine (Debit/Credit Card), Mini ATM, QR Code, Fund Transfer Facility, AEPS, Bill Payment Facility and other facilities to the customers through AIR PAY.
I assure you that our Bank is committed to serve one and all in a timely and delightful manner. We have also enabled Mobile Banking, POS machines etc. to empower our esteemed customers to transact from the comfort of home/office/shops etc.
Look forward for a mutually beneficial association.
Surendra Nahata
Chairman